munimula

Landlord In Difficulties

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Viewed a 2-bed flat for rent in Chiswick last saturday and then discovered the landlord trying to rent independently via the Loot. Knew from the agent that they are desperate to let asap. Put in an offer today of £1000pcm (asking is about £1200pcm) and the reply was;

I'll consider it but it's less than the mortgage what with interest rates going up

Can't believe what tight margins these people are operating on. If they let it through the agent they wouldn't be getting much more than the £1000 I offered after agent fees etc. They sound quite desperate though, having to find over £1000 a month extra to pay the mortgage on their BTL!

I'll keep you updated.....

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Viewed a 2-bed flat for rent in Chiswick last saturday and then discovered the landlord trying to rent independently via the Loot. Knew from the agent that they are desperate to let asap. Put in an offer today of £1000pcm (asking is about £1200pcm) and the reply was;

Can't believe what tight margins these people are operating on. If they let it through the agent they wouldn't be getting much more than the £1000 I offered after agent fees etc. They sound quite desperate though, having to find over £1000 a month extra to pay the mortgage on their BTL!

I'll keep you updated.....

these muppets were prepared to work on such tight margins because they thought short term capital gains would bail them out.......

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A guy who used to work with me used to rent a house in Chiswick with a few of his mates. They spent money like they owned the place.

Never did get on the housing ladder, no savings - emigrated disillusioned in 2000.

Why do you need to rent in Chiswick? It's an expensive luxury.

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A guy who used to work with me used to rent a house in Chiswick with a few of his mates. They spent money like they owned the place.

Never did get on the housing ladder, no savings - emigrated disillusioned in 2000.

Why do you need to rent in Chiswick? It's an expensive luxury.

A two bed flat that close to London for a grand a month is not at all bad?

If you work in London your not going to want to travel 2 hours a day and thats a half hour ride on the tube to CL.

I cant see the problem with that looks a good deal for the area (IMO).

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A guy who used to work with me used to rent a house in Chiswick with a few of his mates. They spent money like they owned the place.

Never did get on the housing ladder, no savings - emigrated disillusioned in 2000.

Why do you need to rent in Chiswick? It's an expensive luxury.

Many of us don't have the luxury of living with our parents if we want to work in London and unable to get on the property ladder I'm not prepared to keep slumming it in the shit locations, spent 18 months in Brixton once and hated it. £1000 for a 2-bed flat would actually be a steal for this area, be hard to pay less anywhere other than the likes of Peckham. £1200 wouldn't even be overpriced. What would you propose I did IS - put up a tent in Hyde Park?

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Ignorant Steve,

Renting there may be a luxury, but personally while I'm saving for a deposit I'm not going to live in a dingy bedsit.

I can pay only £600 in rent for what would cost me £950 on an IO mortgage.

Why not splash out? If you can still save then you can live wherever the feck you like.

My current landlord is in trouble too.

2 weeks till I move out:

:) He has had 1 viewing and no offers (not even a cheeky one).

:) He has had 1 viewing to re-let it, and they didn't seem interested.

He admits that even if he gets £30 a month more than we're paying now (thats what its being advertised for - won't get it IMHO) that it won't even cover the IO mortgage that he has, and thats with a 20% deposit.

And it has been valued by the EA at about the same price he purchased for 2 years ago, so he is likely looking at losing some of his deposit even if he does manage to sell. :lol::lol::lol:

I can imagine a few landlords I've known being in similar positions... :lol::lol:

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Many of us don't have the luxury of living with our parents if we want to work in London and unable to get on the property ladder I'm not prepared to keep slumming it in the shit locations, spent 18 months in Brixton once and hated it. £1000 for a 2-bed flat would actually be a steal for this area, be hard to pay less anywhere other than the likes of Peckham. £1200 wouldn't even be overpriced. What would you propose I did IS - put up a tent in Hyde Park?

Wasn't having a go (for once). Just genuinely interested. Chiswick is neither very close to the centre of London to be an easy commute nor is it far enough out to be cheap(ish).

Surely Acton would give you a similar journey to work for much less rent.

Short bus ride to Chiswick for the nightlife (or whatever).

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About 6 months ago I was living in a 1st floor flat. The landlord decided to sell it, so as luck would have it (so I thought) a flat in the next building along was also available to rent. I moved to the other flat.

It was about this point that I was having a damn good nose around the market, being shown around the local housing stock - my old flat was on the market for £124k in an EA down the road. When I checked the house price websites it came up as bought for £69k a few years ago.

The thing is though, it's been completely empty ever since I moved out. I've now moved out of the 2nd flat, which turned out to be cold, damp and noisy, and got a much bigger rented house a few streets away for only a little more rent.

As for the old flat, it's either:

1) Still not sold - there are a bunch of for-sale signs up, not sure which flats they refer to

2) It has been sold to BTL and no-one has rented it since

3) It has been sold to someone who's actually going to live there themselves - but where are they after 6 months??

Makes you wonder...

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Many of us don't have the luxury of living with our parents if we want to work in London and unable to get on the property ladder I'm not prepared to keep slumming it in the shit locations, spent 18 months in Brixton once and hated it. £1000 for a 2-bed flat would actually be a steal for this area, be hard to pay less anywhere other than the likes of Peckham. £1200 wouldn't even be overpriced. What would you propose I did IS - put up a tent in Hyde Park?

Try SE london - 45 mins to oxford circus, you can get a 3 bed for that amount in a decent location (Crystal Palace, Forest Hill) with decent parks that aren't full of nannies barking into their mobiles. Brixton is highly over-rated, but then people get scared when they aren't on the tube...

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Wasn't having a go (for once). Just genuinely interested. Chiswick is neither very close to the centre of London to be an easy commute nor is it far enough out to be cheap(ish).

Surely Acton would give you a similar journey to work for much less rent.

Short bus ride to Chiswick for the nightlife (or whatever).

Truthfully I'd rather stay in Hampton Wick (Kingston Upon Thames) but I need to share as renting 1-bed would be a waste of money and I can't get anyone to move 'out' to Hampton Wick. Chiswick has very easy direct links to central London, District line isn't that bad (big carriages) and can get a seat from Chiswick Park. Good links out of London on the roads to M4 or M3. Very cosmopolitan vibe on the Chiswick High Road.

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Truthfully I'd rather stay in Hampton Wick (Kingston Upon Thames) but I need to share as renting 1-bed would be a waste of money and I can't get anyone to move 'out' to Hampton Wick. Chiswick has very easy direct links to central London, District line isn't that bad (big carriages) and can get a seat from Chiswick Park. Good links out of London on the roads to M4 or M3. Very cosmopolitan vibe on the Chiswick High Road.

All of the reasons you quote for moving to Chiswick are certainly valid if you were buying. Hence why buying prices are higher there than the surrounding areas. But I still wouldn't advocate renting there.

I know Chiswick very well - I live there.

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Chiswick floods regularly at high tide - I've seen some excellent pix of canoeists in a Chiswick garage in a metre of water, and another of a swan in someone's front-door area.

I used to live in Putney and one of the entertainments was wandering down to the river when it flooded to see the inevitable furious owner of a sports car or chelsea tractor wading out to their slightly-reduced-in-value car.

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I pay over £1,000 a month for a 1 bed flat not too far from Chiswick, so if you can pick up a 2 bed for that you're doing well.

Granted where I live has much better transport links that Chiswick. I assume that for that price if is probably some distance from Chiswick High Road?

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I pay over £1,000 a month for a 1 bed flat not too far from Chiswick, so if you can pick up a 2 bed for that you're doing well.

Granted where I live has much better transport links that Chiswick.  I assume that for that price if is probably some distance from Chiswick High Road?

Not to be nosey.

But how much do you guys typically earn a year inc bonus, london waiting etc to be able to afford £1000 pm rent?

I would find it hard to pay £400 or £500 rent.

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Not to be nosey.

But how much do you guys typically earn a year inc bonus, london waiting etc to be able to afford £1000 pm rent?

I would find it hard to pay £400 or £500 rent.

I rent with my wife, so I guess my share is just over £500/month....or not!

The vast majority of 1 bed flats in West London are rented by couples. Singles tend to rent studios as you need to be earning serious money to justify paying that alone.

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Not to be nosey.

But how much do you guys typically earn a year inc bonus, london waiting etc to be able to afford £1000 pm rent?

I would find it hard to pay £400 or £500 rent.

Average salary in City of London and Tower Hamlets (the borough containing Canary Wharf) is about £65,000. I'd use that as your starting point, and remember that it includes the cleaners as well as the bankers.

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Average salary in City of London and Tower Hamlets (the borough containing Canary Wharf) is about £65,000. I'd use that as your starting point, and remember that it includes the cleaners as well as the bankers.

Remember that's just the people living in those boroughs, NOT all the people working there.

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Remember that's just the people living in those boroughs, NOT all the people working there.

No, it's people working there. They live all over the place, of course.

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No, it's people working there. They live all over the place, of course.

Where do you get these facts? Have you got any links as I find it very hard to believe that the average of all workers in London City and Tower Hamlets is £65k, even given the massive salaries of the investment bankers.

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Where do you get these facts? Have you got any links as I find it very hard to believe that the average of all workers in London City and Tower Hamlets is £65k, even given the massive salaries of the investment bankers.

http://www.gle.co.uk/onelondon/GVine/Grape...iting4Nov04.htm

Canary Wharf overtakes City in pay stakes; the latest figures on annual earnings published by the Office for National Statistics show that the pay of workers in Docklands has overtaken those in the City for the first time. Annual salaries for full-time workers in Tower Hamlets went up by 19.5 per cent in the year to April 2004 taking them to an average of £66,300 compared to the City where a drop of 0.1 per cent meant that the average wage was £64,178. The national average is £26,989. The figure for Tower Hamlets is all the more remarkable as it also covers areas such as Shadwell and Stepney, which are the most deprived areas in London. Canary Wharf is home to the global HQ of HSBC and the European subsidiaries of Citigroup and Morgan Stanley. Further information available on the Office for National Statistics website. Times 29.10.04

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Average salary in City of London and Tower Hamlets (the borough containing Canary Wharf) is about £65,000. I'd use that as your starting point, and remember that it includes the cleaners as well as the bankers.

I'd slum it for half that, does canary Wharf need Engineers cause I.d live in a ditch and retire to Argentina in a year!

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I pay over £1,000 a month for a 1 bed flat not too far from Chiswick, so if you can pick up a 2 bed for that you're doing well.

Granted where I live has much better transport links that Chiswick.  I assume that for that price if is probably some distance from Chiswick High Road?

10 mins from Chiswick Park tube.

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